China, desperate to kick start their economy and improve civil harmony has quietly removed trade restrictions imposed in late 2020 on Australian coal imports. Earlier this year Chinese authorities gave four major importers permission to resume purchases of Australian coal, which began shipping in January. Bloomberg reports that China’s ports and customs offices have been told to allow all domestic companies to import Australian coal, according to people familiar with the decision, who asked not to be identified because the … Continue reading “China Removes Remaining Barriers from Unofficial Trade War on Australian Coal”
Australia Trade Surplus in December $12.237 Billion Impacted by Australians Travel Spend
Australia posted a trade surplus of A$12.24 billion in December, impacted by exports of mineral fuels and mining goods impacted by the war in Ukraine. The Australian Bureau of Statistics reported imports had risen by $445 million from November, driven by an increase in travel services as more Australians headed overseas for the holidays. Exports fell by $793 million. The report was amid softening global demand as China battled with a resurgence of coronavirus infections. When China slows down, Australian … Continue reading “Australia Trade Surplus in December $12.237 Billion Impacted by Australians Travel Spend”
Australia Trade Surplus Widened in November to $13.2 billion With Iron Ore Exports Higher 7.9%
Australia posted a trade surplus of A$13.2 billion in November exceeding expectations for a surplus of A$10.5 billion following the A$12.217 billion surplus in October and $12.5 billion in September. The Australian Bureau of Statistics reported exports dipping 0.4 per cent and imports falling 1.5 per cent over the month. The report was amid softening global demand as China battled with a resurgence of coronavirus infections. Australia’s’ leading exports were Metal ores and minerals exports (iron ore) $14,502 billion up … Continue reading “Australia Trade Surplus Widened in November to $13.2 billion With Iron Ore Exports Higher 7.9%”
China to Boost Domestic Coal Production to Ensure Energy Security
China, the world’s largest coal consumer and producer, announced that it would boost domestic production to ensure its energy security. Newcastle thermal coal futures fell more than $US70 a tonne to $US335 a tonne on Friday night for the October ICE contract. China has been hard by its ill-thought-out trade war with Australia which put them behind the queue as record prices for top quality Australian hard coking coal were set regularly in June the price hit $US430 (AUD$595) a … Continue reading “China to Boost Domestic Coal Production to Ensure Energy Security”
US Share of Electricity Generation from Coal to Decline Further Despite Soaring Natural Gas Prices EIA Forecasts
The EIA in their June STEO expect the continued retirement of coal-fired generating capacity in the United States to see the share of electricity generation from coal to decline from 23% in 2021 to 21% in 2022 and to 20% in 2023. Despite surging natural gas prices constraints include limited rail capacity for fuel delivery, low coal stocks at power plants, reduced coal mining capacity, and rising generation from renewable sources. Coal prices have risen unabated with supply chain disruptions globally. The EIA … Continue reading “US Share of Electricity Generation from Coal to Decline Further Despite Soaring Natural Gas Prices EIA Forecasts”
Australia Current Account Surplus Twelfth Straight in Q1 2022 but Lowest Since Q4 2019
Australia posted a current account surplus that missed expectations of $13.2 billion significantly for the March quarter after it decreased by $5.7 billion to $7.5 billion (seasonally adjusted) in the March quarter. Import volumes far outstripped exports which took a slice out of economic growth. Higher dividend payments to non-residents as profits continued to rise on the back of higher commodity prices affected the deficit, “The current surplus narrowed for the third consecutive quarter and was the lowest since December … Continue reading “Australia Current Account Surplus Twelfth Straight in Q1 2022 but Lowest Since Q4 2019”
Australian Coking Coal Record High with Strong Demand in Korea and Japan
Record prices for top quality Australian hard coking coal were set three times in the past week. The price hit $US430 ($595) a tonne Wednesday, almost four times the price in May. Coal prices have risen unabated with supply chain disruptions. Strong demand in Korea and Japan has fueled the rally over the past seven weeks. The prices were already pressured with Indonesia’s decision to ban coal exports. Further pressure on coal prices came from BHP, the world’s biggest coking … Continue reading “Australian Coking Coal Record High with Strong Demand in Korea and Japan”
Australia October Trade Surplus AUD+11.22bn With Exports Lower on Iron Ore Prices
Australia posted a trade surplus of A$11.22 billion in October exceeding expectations for a surplus of A$11.0 billion. It was the smallest trade surplus since May, amid softening global demand as more countries battled with a resurgence of coronavirus infections. Follows a downwardly revised A$11.82 billion trade surplus in September (from A$12.243 billion). Exports fell 3.0% m/m or A$1.491 billion to A$43.053 billion. Goods were down 3.0% and services fell 6.0% Imports also slipped 3.0 percent on month or A$887 … Continue reading “Australia October Trade Surplus AUD+11.22bn With Exports Lower on Iron Ore Prices”
Traders Market Weekly: All Risk, No Fear, Mania and inflation
November 7 – 13 2021 FEAR NOT Brave Investors Strange times But remember The Joker once served as the Iranian ambassador for the United Nations. All Risk, No Fear, Mania and inflation The Week That Was – What Lies Ahead? Editorial Like a scratched record another week of no fear for US stock markets, risk on is oblivious to cracks appearing in this mania. S&P and NASDAQ closed at record highs for the seventh straight day, NASDAQ up for … Continue reading “Traders Market Weekly: All Risk, No Fear, Mania and inflation”
Traders Market Weekly: Record Highs, Fed and Jobs
Join us in our weekly market thread. November 1 – 6 2021 Where have we been and where are we going? Join our weekly market thread on Traders Community… FEAR NOT Brave Investors Strange times But remember The Joker once served as the Iranian ambassador for the United Nations. Record Highs, Fed and Jobs The Week That Was – What Lies Ahead? Editorial Another week of no fear for US stock markets, risk on is oblivious to cracks appearing. The … Continue reading “Traders Market Weekly: Record Highs, Fed and Jobs”